I'm glad this is reproducible with the demo also and that it's not due to my mutilated code. Try this: take demo2, set the transition duration animationTime to zero (or any low value, e.g. 100ms) and notice how the FX are not happening; new panels simply appear.
BUT, if you let the slider go through all the panels once, then the second time everything works nicely. Hit refresh and you're back to square one.
I'm building a custom slideshow and the FX extensions are a godsend. However, the transitions ARE supposed to be the effects themselves, without the right-to-left swipe "effect" coming from the original anythingSlider.
I appreciate any help you can provide.